FORA Capital LLC Decreases Stock Position in ONEOK, Inc. (NYSE:OKE)

FORA Capital LLC trimmed its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 92.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,472 shares of the utilities provider’s stock after selling 83,930 shares during the period. FORA Capital LLC’s holdings in ONEOK were worth $519,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of OKE. Ameriprise Financial Inc. boosted its holdings in shares of ONEOK by 20.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 863,364 shares of the utilities provider’s stock valued at $54,773,000 after acquiring an additional 146,282 shares during the last quarter. Lido Advisors LLC raised its stake in ONEOK by 122.7% during the 3rd quarter. Lido Advisors LLC now owns 8,872 shares of the utilities provider’s stock valued at $563,000 after buying an additional 4,888 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of ONEOK by 50.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,115,883 shares of the utilities provider’s stock valued at $134,210,000 after buying an additional 706,366 shares during the period. Sei Investments Co. boosted its stake in shares of ONEOK by 219.7% in the 3rd quarter. Sei Investments Co. now owns 218,688 shares of the utilities provider’s stock worth $13,871,000 after buying an additional 150,282 shares during the last quarter. Finally, Schroder Investment Management Group grew its holdings in shares of ONEOK by 11.2% in the third quarter. Schroder Investment Management Group now owns 77,742 shares of the utilities provider’s stock worth $4,931,000 after acquiring an additional 7,821 shares during the period. Institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

OKE has been the topic of several research reports. JPMorgan Chase & Co. raised their target price on ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 26th. Wells Fargo & Company raised their price objective on shares of ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Mizuho increased their price target on shares of ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Stifel Nicolaus lifted their price target on shares of ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, US Capital Advisors lowered ONEOK from an “overweight” rating to a “hold” rating in a research note on Wednesday, March 20th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $84.50.

ONEOK Trading Up 0.7 %

OKE traded up $0.56 on Tuesday, hitting $82.56. The company had a trading volume of 317,153 shares, compared to its average volume of 2,785,209. ONEOK, Inc. has a 12-month low of $60.58 and a 12-month high of $83.31. The company has a quick ratio of 0.48, a current ratio of 0.70 and a debt-to-equity ratio of 1.24. The business’s fifty day simple moving average is $80.33 and its 200 day simple moving average is $76.45. The company has a market cap of $48.19 billion, a PE ratio of 19.06, a PEG ratio of 4.41 and a beta of 1.65.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. The business had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. During the same quarter in the prior year, the company earned $2.34 EPS. Equities research analysts expect that ONEOK, Inc. will post 4.95 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were given a $0.99 dividend. The ex-dividend date was Tuesday, April 30th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.80%. ONEOK’s payout ratio is 92.09%.

ONEOK Company Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.